How To Find Best Real Estate Agent

December 05, 1987|By Robert Bruss.

Listing your home for sale with a real estate agent is not an easy job. Selecting the best agent is only half of the task. The other involves knowing what sales services to expect the agent to perform. The key to obtaining the desired result, namely a quick home sale for top dollar, requires selecting the right agent and then making certain you get your money`s worth.

- Services to expect from the real estate agent. When talking to real estate agents about listing your home for sale, it pays to know what sales services to expect from the agent. To be sure you`ll get your money`s worth, interview at least three active realty agents who sell homes in your neighborhood. Here are eight key services to expect:

- Written competitive market analysis. After thoroughly inspecting your home, the first step a real estate agent should undertake when competing for your listing is to prepare a written competitive market analysis form for you. Sales prices of recently sold nearby comparable homes as well as asking prices of similar neighborhood homes now on the market should be included.

Then the real estate agent will add and subtract value for the features and drawbacks of your home to arrive at a suggested asking price. Bear in mind, however, homes often sell for 5 to 10 percent below their asking prices. - Estimated sales proceeds. If you agree with the agent`s estimated market value of your home, then the agent should prepare a written estimate of your net sales proceeds after paying any existing mortgages, liens, the agent`s sales commission, and other expenses of selling your home.

This estimate of the cash the seller will receive should consider realistic sales terms in today`s mortgage market and might include your helping finance the sale, such as with a second mortgage, if necessary. Consider it a bonus if the agent`s firm has a mortgage division that can help the buyer obtain a mortgage.

- Suggestions to enhance your home`s salability. Unless your home is in tip-top condition, the best real estate agents will diplomatically suggest steps to improve the salability of your home, such as painting, cleaning and repairing. Agents know most home buyers want a ``red ribbon deal,`` which means a home in move-in condition that won`t require major renovation. Often a small amount spent improving a home`s physical appearance will pay off in a greatly enhanced sale price far higher than the upgrade costs.

- Written disclosure statement. After your home is in tip-top condition ready to put on the market, the best agents will give you a written disclosure statement form to fill out to be shown to prospective buyers. It will protect you and the agent after the sale closes from a buyer who claims you didn`t disclose defects such as gutters that are plugged-up, that the house isn`t connected to the city sewer, or you forgot to get a building permit for the bedroom addition.

- Agent`s written marketing plan. The best realty agents will prepare a written marketing plan for your home. Beware of any agent who refuses to make firm written promotion plans for your listed home.

Such a marketing program will probably include a for-sale sign on your front lawn and submitting your listing to the local multiple listing service book for distribution to all member real estate agents.

But the agent should also commit to a firm marketing program, to include weekend open houses, tours for local realty agents from other firms, listing information sheets with a photo for other agents and prospectve buyers, mailings to neighbors who may know of prospective buyers, and newspaper ads.

- Periodic progress reports. Top real estate agents keep in touch with their home sellers at least once a week to inform them of interested buyers and any need for changes in the marketing plan. A price adjustment may be needed.

- Agent references. Last but certainly not least, and perhaps most important, are the agent`s references from previous home sellers.